BLANCA CRE BRINGS THE PLAZA CORAL GABLES TO 100% LEASED

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Blanca Commercial Real Estate and Agave Holdings announced that The Plaza Coral Gables is now 100% leased.

Blanca Commercial Real Estate successfully secured the final leases that pushed The Plaza to full occupancy. The latest tenants include Baycrest Partners, which leased 1,800 square feet with representation from Newmark’s Max Rossi; ALTI, signing for 6,000 square feet with CBRE’s Thomas Haughton representing the tenant; and Marcum, which leased 9,600 square feet, represented by Carlyle Coffin of Stream Realty Partners. These companies join a distinguished roster of tenants, including Apple (41,000 square feet), Hinshaw & Culbertson (21,000 square feet), and Bacardi (110,000 square feet).

“The Plaza Coral Gables has solidified its position as a premier business hub in South Florida since its delivery three years ago, attracting top-tier tenants seeking a modern, employee-centric workplace experience,” said Tere Blanca, Founder, Chairman and CEO of Blanca Commercial Real Estate.

“With a strong emphasis on best-in-class amenities, this mixed-use project that features a stellar central plaza, varied dining options, luxury apartment rentals at The Plaza Reserve, and the four-star Lowe’s hotel has set a new standard for office environments in Coral Gables and South Florida in general,” added Danet Linares, Executive Vice Chairman of Blanca Commercial Real Estate. “We are proud to have successfully signed these final leases leading up to the 100% lease milestone.”

Developed by Agave Holdings, The Plaza Coral Gables spans seven acres and features approximately 455,008 square feet of Class A office space across two towers. Strategically positioned in the heart of Coral Gables, the dynamic development is transforming the area with its premier office environment, stellar amenities, and community-focused offerings. The North Tower comprises approximately 291,267 square feet of Class A office space, featuring a landscaped terrace on the seventh floor, a state-of-the-art fitness center, a conference center, a tenant lounge, and a catering kitchen. The South Tower, spanning 163,741 square feet, provides tenants exclusive access to all project amenities, including the North Tower’s amenity floor. Both buildings were sustainably designed and equipped with LEED certification.

“Reaching 100% occupancy is a testament to the strength of The Plaza’s design, amenities, and location,” said Andres del Corral, Vice Chairman of Blanca Commercial Real Estate. “From world-class companies to innovative firms, businesses recognize the long-term value of positioning themselves in this dynamic environment,” he added. “We are thrilled to see this project fully leased and look forward to welcoming the newest tenants to this thriving business community.”

Beyond office space, The Plaza Coral Gables encompasses a 4.5-star, 242-room Loews Coral Gables Hotel with multiple dining options, state-of-the-art conference and event spaces, 165,000 square feet of street-level entertainment and retail, 170 luxury residential units at The Reserve, a 2,000-space parking garage, and a stunning grand plaza featuring art installations and water features. As Coral Gables’ most significant recent development, The Plaza continues to redefine the local commercial real estate landscape, attracting renowned enterprises and significant investment to the region.

Blanca Commercial Real Estate serves as the exclusive leasing agent for The Plaza Office Towers. The office leasing efforts are led by Blanca, Linares, and del Corral.

TERE BLANCA ON RESILIENCE, REINVENTION, AND REIMAGINING OFFICE SPACE IN SOUTH FLORIDA

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In the ever-evolving landscape of commercial real estate, few figures stand as tall—or as resilient—as Tere Blanca, founder and CEO of Blanca Commercial Real Estate. With a career that spans multiple market cycles, Tere has built a company, a legacy, and a reputation as a leader unafraid to make bold moves—even during times of crisis. Her journey, marked by entrepreneurial tenacity and a client-first ethos, has redefined Miami’s office market and positioned her firm at the forefront of the region’s commercial real estate evolution.

“I always knew that an opportunity to do my own thing eventually would be what my heart would follow,” Blanca reflects. “I missed being close to clients, rolling up my sleeves, and just hopefully making some magic happen for them.”

From Tragedy to Transformation

Blanca’s leap into entrepreneurship wasn’t just a business decision—it was deeply personal. In 2007, following the tragic loss of her mother in a house fire, Blanca took a hard look at what she wanted her legacy to be. That reflection fueled her decision to resign from Cushman & Wakefield, where she had been leading regional operations, and start her own firm in the midst of the 2008 financial crisis.

The timing was unconventional, but for Blanca, adversity spelled opportunity. “When there’s a crisis, there’s opportunity,” she says. “We built this company on personal values, with a team that puts clients first, always.”

Now, 16 years later, Blanca Commercial Real Estate is a 55-person powerhouse with offices in Brickell, Waterford Business District, and Las Olas. The firm offers a full suite of services across leasing, sales, and consultancy, with a growing portfolio in property management—a testament to Blanca’s long-term vision and her team’s ability to adapt to market shifts.

Market Dynamics: Navigating Cycles and Capital Challenges

Blanca’s career trajectory has given her a front-row seat to the ebbs and flows of market cycles—and she has guided clients through them with a steady hand. “We ended 2020 ahead of 2019, which is remarkable,” she recalls, highlighting how her firm pivoted during the pandemic by supporting clients and staying agile.

Today, she advises caution and strategic foresight, especially as capital markets remain tight. “Owners with solid, well-performing assets are facing refinancing challenges due to rapidly rising interest rates,” Blanca notes. While South Florida hasn’t seen the same steep discounts as other markets, she emphasizes the importance of conservative underwriting and smart capital allocation to maintain asset relevance.

For investors eyeing Miami, Blanca recommends focusing on tenant demands and positioning assets to capture post-crisis pent-up demand. “If you’ve invested the capital in the right places to position the asset, you’re going to be a winner,” she asserts.

The Flight to Quality and Amenity-Driven Leasing

Miami’s office market has seen a pronounced “flight to quality,” with top-tier buildings outperforming amid shifting tenant expectations. Blanca cites projects like 701 and 801 Brickell—recently renovated and achieving top rents—as examples of proactive investment paying off. “Sometimes reserves aren’t enough. You need to execute on timely renovations to stay competitive,” she explains.

Tenants today are looking for more than just office space—they want wellness amenities, vibrant food and beverage options, flexible workspaces, and access to nature. “It’s about delivering spaces where employees feel energized and connected,” Blanca says.

That’s exactly what’s driving demand at Fort Lauderdale’s Fat Village, where Blanca’s firm is leasing the T3 building by Hines—the first mass timber office building in Florida. Designed with sustainability and wellness in mind, the T3 concept creates a sensory experience that fosters creativity and calm. “When you walk into a space with mass timber, you feel connected to nature. It drives productivity and wellness,” Blanca says.

Suburban Success and the New Office Experience

Blanca’s work isn’t limited to Miami’s urban core. At Waterford Business District near Miami International Airport, her firm helped reposition 1.7 million square feet of office space through rebranding, amenity upgrades, and a focus on mobility and wellness. The results? Over 1.5 million square feet leased, including major tenants like Assurant, Verizon, and Subway.

“Companies today want to deliver an opportunity for their employees to enjoy quality space—not just for work, but for life,” she emphasizes. From shaded outdoor seating to Tesla service to the airport, the district reflects the blending of lifestyle and work in modern office environments.

Advice for the Next Generation: Patience, Perseverance, and Proactivity

Blanca is passionate about supporting the next generation of real estate professionals. Her advice? Find trusted mentors and sponsors early—and stay curious.

“Trusted mentors and sponsors are invaluable when you start your career and as you continue to grow professionally,” she says. “Also, remain curious—keep learning, be proactive, and be patient.”

Blanca is candid about the realities of the business. “Procurement and execution in our business can take months and years to complete, and know it is not a ‘9 to 5 job’. Perseverance and dedication are required to succeed.”

Her insights reflect not just her own journey, but a roadmap for anyone aspiring to thrive in commercial real estate. For Blanca, success is not just about transactions—it’s about long-term relationships, thoughtful execution, and a relentless commitment to excellence.

Looking Ahead: “We’re Just Getting Started”

As South Florida continues to attract national attention—and investment—Blanca remains bullish on the region’s prospects. “This region is continuing to surprise everyone,” she says. “Public and private investments have laid a strong foundation, and we’re seeing major players like Ken Griffin and Stephen Ross accelerate that growth.”

Despite challenges, Blanca’s message is clear: with the right strategy, timing, and client-centric approach, success is within reach—even in uncertain times. “I always say we’re just getting started,” she smiles. And with Blanca Commercial Real Estate leading the charge, South Florida’s office market is poised for an even brighter future.